Nifty Expiry Day: Make or Break Moment for the Bulls?
Nifty after opening with a gap down on a weak note near 21600 zone, witnessed a strong pullback as the day progressed and after a long time breached above the 21800 level to improve the bias and sentiment anticipating for extended gains in the coming sessions. The index would need to sustain above the 21750-21770 zone for the bias to remain intact and expect for next targets to retest the previous levels of 22000 and 22150 in the coming days.
Our Recommended Strike Price was Nifty 21600 – 21950
Potential Level : 22198.23, 22167.46, 21981.48, 21950.71, 21764.73, 21733.96, 21616.04 & 21585.27
Bank Nifty on Bull’s Charge: Can Momentum Be Sustained?
Bank Nifty also gave a strong recovery from the 45000 zone of the significant 200 period MA and gained momentum as the day progressed to cross above the 46000 level during the intraday session. With the index closing on a decent note, further ahead a decisive breach above the 50EMA level of the 46100 zone shall further improve the bias and can anticipate further rise
Our Recommended Strike Price was Bank Nifty 45000 – 46400
Potential Level : 46743.08, 46678.89, 46291.08, 46226.89, 45839.08, 45774.89, 45387.08 & 45322.89
Stocks on News
BPCL : BPCL ESPS Trust on Wednesday sold 0.3% stake in Bharat Petroleum Corporation through the open market for around Rs 400 crore.
Our Recommended Strike Price for BPCL 585 – 627.50
NMDC : NMDC posted net profit of Rs 1470 crore in the December quarter. Revenue from operations in the same period were at Rs 5,409 crore
Our Recommended Strike Price for NMDC 224 – 236
Muthoot Finance : Muthoot Finance posted net profit of Rs 1,027 crore in the December quarter. NII for the quarter came in at Rs 1,905 crore.
Our Recommended Strike Price for Muthoot Finance 1350 – 1390